Having projected robust hiring market in 2016 for MBA talent in its 2015 Year-End Poll of Employers, the Graduate Management Admission Council (GMAC) has come out with the new 15th Corporate Recruiters Survey Report, confirming the forecast.
In the strongest show of employer demand since 2010 when the recession- hit market was at its lowest, some 88% of corporate recruiters who participate in placements at Business schools revealed plans to hire recent MBA graduates. It translates to an eight percentage point rise over the previous year’s figures and a substantial 33% increase over the 2010 numbers.
The Corporate Recruiters Survey 2016 was conducted in February-March with EFMD and MBA CSEA as partners along with 109 business schools worldwide. It drew responses from 842 employers from more than 530 companies in 40 countries all over the world.
In the strongest show of employer demand since 2010 when the recession- hit market was at its lowest, some 88% of corporate recruiters who participate in placements at Business schools revealed plans to hire recent MBA graduates. It translates to an eight percentage point rise over the previous year’s figures and a substantial 33% increase over the 2010 numbers.
It also took in the findings of a supplemental survey of 1,282 employers in six countries, conducted for the first time, during the same period to provide broader insights into general business hiring practices in the wider marketplace.
This survey, titled the General Population Employer Survey, was conducted among a purchased sample of Human Resource professionals and recruiters in six countries, namely, China, France, Germany, India, the United Kingdom and the United States, the largest market for graduate management education.
It generated responses from 1,282 companies. While 50% of the companies in the supplemental survey revealed plans to hire MBAs, an overwhelming 70% in China and 35% in Germany.
“The difference in hiring projections between the two surveys highlights the value business schools provide to students in connecting them with employers that want to hire them,” says Bob Alig, GMAC’s executive vice president for school products.
He also describes the results as “compelling evidence for admissions professionals to demonstrate the value of a graduate business degree to prospective applicants.”
Damian Zikakis, MBA CSEA president and director, Career Services, at the University of Michigan Ross School of Business claims that with 9 in 10 employers that work with career services proposing to conduct on-campus recruitment this year, students get a tremendous advantage in finding job opportunities that would match their talent and aspirations.
Findings from this supplemental survey lend additional insights into general business hiring practices in the wider marketplace in countries that represent the largest markets for graduate management education in their respective regions.
Meanwhile, a greater number of companies in Asia-Pacific, Europe, and Latin America plan to hire Master of Accounting graduates this year compared with 2015.
Globally, more than half (54%) of employers plan to hike starting salaries for new MBA hires in 2016, either at the rate of inflation (33% of companies) or higher (21%).
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US-based employers plan to offer recent MBA graduates a median starting base salary of USD$105,000 in 2016, up from a median of USD$100,000 in 2015.
Highlighting the strong demand in the sector, 67% of companies that plan to hire graduates with Master in Supply Chain Management degrees expect to hike their starting salaries either at the rate of inflation (46%) or above (20%).
Up to 52% corporate recruiters stated that the proposed to hire (24%) or are willing to consider hiring (28%) recent business school graduates who require additional legal documentation, such as work permits or visas.
Nearly 30% of companies that plan to hire MBAs propose to place these candidates in multiple world regions. (Image Courtesy :en.wikipedia.org)